Varonis Systems (VRNS) Projected to Post Quarterly Earnings on Monday

Varonis Systems (NASDAQ:VRNS) is expected to announce its earnings results after the market closes on Monday, February 3rd. Analysts expect the company to announce earnings of $0.14 per share and revenue of $165,130.00 billion for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. The company had revenue of $148.07 million for the quarter, compared to analysts’ expectations of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period last year, the company earned ($0.22) EPS. On average, analysts expect Varonis Systems to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Varonis Systems Stock Performance

NASDAQ:VRNS opened at $44.31 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. The firm has a market cap of $4.98 billion, a PE ratio of -59.08 and a beta of 0.83. The firm has a 50 day simple moving average of $46.81 and a 200-day simple moving average of $51.54. Varonis Systems has a 1-year low of $41.13 and a 1-year high of $60.58.

Insider Activity

In other news, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the sale, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VRNS. Piper Sandler reduced their price target on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Cantor Fitzgerald started coverage on Varonis Systems in a research note on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. DA Davidson decreased their target price on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $65.00 price target on shares of Varonis Systems in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.44.

Varonis Systems Company Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.